MCX Crude Oil is likely to trade with positive bias during today`s trading session - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.59100 - 58900 levels whereas resistance is at Rs.59500 - 59700 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.74200 - 73800 levels whereas resistance is at Rs.75000 - 75400 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6600 - 6500 levels whereas resistance is at Rs. 6820 - 6920 levels.
* MCX Copper is likely to trade with positive bias during today’s trading session. Support is at Rs.733 - 729 levels whereas resistance is at Rs.740 - 744 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 733 -729 level and resistance at 740 - 744. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 740 - 744 levels on higher side.
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